Bitcoin Veteran Erik Voorhees Quietly Rebuilds 9,911 ETH, Adds $6.8M in PAXG Clickable image
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Bitcoin Veteran Erik Voorhees Quietly Rebuilds 9,911 ETH, Adds $6.8M in PAXG



Bitcoin veteran Erik Voorhees has quietly rebuilt a sizable Ethereum position, according to on-chain tracking shared by analytics account Lookonchain.

Lookonchain’s widely circulated tweet shows Voorhees spent 20.38 million USDC to buy 9,911 ETH at an average price of about $2,057. The purchase comes roughly a year after he sold 11,616 ETH for about $33.94 million when ETH traded near $2,922—meaning he’s effectively reaccumulated a large stake at roughly a 30% lower entry price.

Voorhees, the ShapeShift founder and long-running crypto advocate active since at least 2011, is best known as a vocal Bitcoin proponent who has championed BTC as “digital gold.” Lately, however, his on-chain activity shows broader diversification: he also deployed around $6.8 million in USDC to buy 1,382 ounces of PAXG, a tokenized gold product, signaling a hedging approach using traditional safe-haven assets.

Taken together, these moves suggest tactical timing and a longer-term accumulation strategy rather than short-term trading. Reentering ETH at a lower price while allocating to tokenized gold underscores how experienced crypto investors are balancing exposure and managing risk amid ongoing price volatility and macro uncertainty.

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